An HDMI Matrix offers the best of both worlds in the sense that multiple sources can be connected to multiple displays simultaneously and also be able to switch to any specific pattern. Those patterns can include, but limited to, multiple sources to one display, like a switch, or one source to multiple displays, like a splitter, or multiple sources to multiple displays, each one showing a different thing. HDMI matrices, much like HDMI switches, also have the option for an EDID dip switch, RS-232 port, and some, if not most, will also include IR ports. There are some HDMI matrices, as well, that support audio outputs to use with a home theater system or a soundbar.
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